Cable Update (GBPUSD)

I did +60 today in the mush from 7am+ .. any more tonight is cherry.. fun to watch though.

..tempted to short but it has to cross 1.9522 for downward movement!

So u don't see much more downside from there?

I definatly think there is room at least to 9430, its just going to fart around here for awhile. Need to get my bearings.

Hard1Head1, never looked into SMOOTHED before, I like it, running mine a tad quicker as it back tests better, so 81 Smoothed ( 27 on a M15 really )

Wonder where else I can apply smoothed hmmmmmmmm!!!


Thanks.

p.s. hope you took profits already

Bought 1.9527 "abc' retracement of yesterday rise.
Low at 1.9440 looks like the bottom of an important Elliott wave structure.

It looks like it would be to fast to graduate from TF to TF. That was given thourough testing and we used all the numbers and these are the best. I will have to watch you and see how they do. I am averaging over 85% so I will stick with what I got.

Jim

If we get by this 1 Hr trendline and the 9520 area, ( And I believe we will ). Then I think the X marks the spot for next big retrace. Nice little head and shoulders playing out.

Jim

This candl speaks volumes.

Testing the back of the 9520 level, we may be ready for another move down. Keep in mind, the 1 Hr trendline thats in the way.

Jim

Jim

Do you mind explaining how you have drawn this H1 trendline?

What's your basis for the "X"?

thanx

TJ

Guys and Gals,

I am here for only one reason and one reason only, to help you all get rich thru Forex. I hope the rest of you are here for the same reason, to help me do the same. I harbor no animosity toward anyone else. I just want to help.

DO not ask me for trades, I will not give them out. I can only let you know what I am doing. I do not want you to give me trades as I wll not take them without doing the math, so to speak. I believe the only reason most people fail at this is because they are afraid to put their stoploss back where it should be and go with the trend. Brokers know this and they will find them. I see that in here a lot, people trying to carry trades against the trend and it dont work. For over a year I placed trades with close stops and again and again I was taken out only to watch the pair go in my direction, sound familiar? Its a mental thing, I kept doing it, and I kept losing and watching. Anyone can be a successful trader if they take the proper risks. I lost over $20,000.00 in the market before I finally started moving my stops back. Now I am getting around 85 % positive and owe it all to my mentor. I also pay him a fee to learn and I do spend time in his trading room taking trades that he posts out and what I pay him is a fraction of what I make on his trades. So be carefull and if you are not able to accept the risks, then it was nice knowing ya.

Jim

I hope this clears it up. The x is where I believe we will end up if we break that t/l. But its having trouble doing that.

We may be getting a bounce here. Triple bottom 5 min TF. wait for break and test of DPP

Do you mind telling us who this mentor is?

Possible H&S on the GU 5 min? (still deciding)

If you email me and leave an email where I can get back to you, I will tell you. He will set it up so you can check it out for free. But putting it on this thread would be borderline spamming. I will get back to you by weeks end.

Jim

I am trading E/U right now, better entries.

good morning
whats ur view on EU
cant see anything important for thsi pair

Price is testing the pocket area,but 89 smoothy is lurking in the distance.
Be careful, Trend is down.